Everyone has to be somewhere, according to a line from an old BBC show. Whether you work in an office building, at a strip mall, at a table in Starbucks, or in your home, you have office-related costs. These costs include expenses related to the physical space, such as rent for an office within a commercial building or a home office deduction if you operate from home. Office costs also include supplies, technology costs for a website and computer backup and maintenance, utilities, and insurance. You may have some or all of these expenses.
Whether your office is a retail store, a greenhouse, an artist's studio, a medical office, or an office in a commercial building, it has to work well for you. Check on:
Your monthly rent for commercial space is fully tax deductible. Rent can be a fixed monthly amount or an amount based on a percentage of your gross receipts.
The rent must be reasonable, which is assumed when you and the landlord are not related. However, if the landlord is your brother, ...